BTCUSD - short term trade - Long

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
318 2
Price is creating a nice channel within which the 50,100 & 200 EMA have crossed bullish on the 1hrly TF.

The marked 'buy zone' (8.4k - 8.5k) would be a nice place to look for a long entry as it contains :

- convergence of all 3 EMAs that have recently crossed buliish.
- 38.2 + 50 fib
- Resistance that should act as support

Comment: totally forgot to add this in original post

Comment: Price has overshot the lower trendline and I will be awaiting for it to show some bullish action & a close back into the channel (which would also mean rejection of lower prices + closes above all 3 EMAs)

Comment: Close above the 100 + 200 EMAs and the trendline would be enough reason for me

Comment: We have a decent breakout, likelihood of achieving targets is now greater


T1 achieved.

There was good momentum behind this move so I believe likelihood to achieve T2 is also high
Comment: Both targets hit, now experiencing a stall at the 4hr 200 EMA as expected

Comment: Break and close above 200 EMA is a good sign

Will be looking for next pullback to enter more longs

What a call
Jibs totts
@totts ty totradamus